Fixed-fee accounting and tax support for independent pharmacies and pharmacy groups in Leicester and across the UK, covering VAT, NHS contract income, stock and staff payroll, so you can focus on patient care.
Running a pharmacy means balancing NHS dispensing income, retail sales and staffing costs, each with its own accounting and VAT treatment. We work with independent pharmacies and small pharmacy groups across the UK, reconciling NHS contract payments, managing VAT on your mixed income, and keeping your accounts accurate and ready whenever you need them.
Click a service to find out more.
We prepare your annual accounts and tax return, whether you trade as a sole trader, partnership or limited company, bringing together your NHS and retail income into one accurate set of figures.
NHS pharmacy contract payments can arrive in stages and be adjusted retrospectively. We help you reconcile these against your dispensing records throughout the year, not just at year end.
Whether you are starting out as a sole trader, taking on a partner, or considering a limited company, we advise on the right structure for your pharmacy and handle the registrations involved.
Pharmacy income is a mix of zero-rated dispensing, exempt professional services and standard-rated retail sales, which often calls for partial exemption calculations. We review your position and handle your VAT returns.
From dispensers and pharmacy technicians to counter staff, we run your payroll so PAYE, National Insurance and pension auto-enrolment are calculated and reported correctly and on time.
We keep your day-to-day records up to date on Xero, QuickBooks, Sage or FreeAgent, reconciling dispensing income, retail takings and supplier invoices so your accounts are always current.
Owning a pharmacy brings some of the more complex VAT and reconciliation questions of any healthcare business. Here is what matters most.
NHS dispensing of prescription drugs and appliances is generally zero-rated for VAT, while a pharmacist’s exempt professional services, such as clinical advice, sit outside VAT altogether. General retail sales of toiletries, cosmetics and other over-the-counter goods, however, are standard-rated. Because a typical pharmacy makes this mix of zero-rated, exempt and standard-rated supplies, partial exemption calculations are often needed to reclaim input VAT correctly, and we handle this as part of your VAT returns.
NHS pharmacy contract payments can arrive in stages and be adjusted retrospectively, which makes reconciling them against your dispensing records essential for accurate accounts. We help you keep this under control throughout the year rather than at year end.
Accurate stock valuation at your year end matters more in pharmacy than in many other sectors, given the volume and value of dispensed medicines held. We help you set up a sensible, consistent valuation approach so your accounts reflect a true picture of profitability.
Many independent pharmacies start as sole traders or partnerships. As turnover grows, or if you plan to open further branches, a limited company can become more tax-efficient. We talk through the numbers based on your plans.
Every pharmacy premises must be registered with the General Pharmaceutical Council, and a superintendent pharmacist holds overall responsibility where a business runs more than one branch. These are regulatory rather than tax requirements, but the associated costs and structuring decisions often go hand in hand with the accounting advice we provide.
We offer fixed-fee packages whether you run your pharmacy as a sole trader, partnership or through your own limited company. Each package covers the core compliance work below, with optional extras you can add as needed.
If you would like to discuss our fees for the services you require, please get in touch.
Get in TouchStraightforward answers to the questions we’re asked most.
This depends on your mix of income. If you also have standard-rated retail sales, you need to register once your relevant taxable turnover exceeds £90,000. We review your full income mix and advise on your VAT position, including any partial exemption calculations needed.
We reconcile NHS contract payments against your dispensing and prescription records throughout the year, so any staged payments or retrospective adjustments are captured accurately rather than causing surprises at year end.
Many independent pharmacies start as sole traders or partnerships. A limited company can become more tax-efficient as turnover grows or if you plan to open further branches, though it brings additional administration. We talk through the numbers based on your plans.
Accurate stock valuation matters in pharmacy given the volume and value of medicines held. We help you set up a sensible, consistent method so your accounts reflect a true picture of profitability.
Yes. We run payroll for pharmacists, dispensers, technicians and counter staff, calculating PAYE, National Insurance and pension contributions and reporting to HMRC each pay period.
Tell us about your circumstances and we’ll come back to you with clear next steps, typically the same working day. Our support is available in person, by phone, email or a virtual video meeting, whichever suits you best.